A petroleum company is considering expansion of its one unloading facility at its Australian refinery. Due to random variations in weather, loading delays, and other factors, ships arriving at the refinery to unload crude oil arrive according to a Poisson distribution with a rate of 15 ships per week. Service time is exponential with an average service rate of 22 ships per week.
a) What are λ and μ?
b) What is the utilisation of the facility?
c) What is the average number of ships waiting to gain access to the single unloading facility?

Answers

Answer 1

a) Calculation of the values of λ and μ;λ = 15, the rate of arrival of ships per week.μ = 22, the service rate of the ship per week. It is an exponential distribution.

b) Calculation of the utilization of the facility;The utilization of the facility = λ/μ = 15/22 = 0.68 = 68% It shows that the facility is being utilized 68% of the time.

c) Calculation of the average number of ships waiting to gain access to the single unloading facility:The formula to calculate the average number of ships waiting to gain access to the single unloading facility is Lq = λ^2/μ(μ - λ). The average number of ships waiting to gain access to the single unloading facility = (15)^2/22(22 - 15) = 3.13 ships.Note: The notation "q" refers to the queue.

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Related Questions

What is the purpose of Marketing?

Answers

Answer:

The purpose of marketing is to position the company in the market, seeking to attract current or potential customers through meeting their needs and, if possible, creating new needs. Thus, in short, the ultimate goal of marketing is the economic empowerment of the company through its market positioning. Marketing activities are advertising, commercial promotions and brand events, among others.

How much did your Parent 1 (father/mother/stepparent) earn from working (wages, salaries, tips, etc.) in 2020

Answers

The year 2020 had a big impact on the economy due to the global pandemic, also having an impact on the annual income of families, so if your father or mother, for example, receive fixed salaries and tips, they probably felt the impacts of the economic recession.

How the pandemic affected the economy

The rates of infection by the virus and mortality generated a scenario of insecurity that led to a public decision to stop consumerism in order to restrict resources and be able to adopt an effective strategy in a period of great uncertainty.

Therefore, with the measures adopted by the government, such as social isolation, many companies stopped producing, closed for a while and were unable to survive without generating profits.

The impact of the pandemic then led to an economic downturn in several countries and caused thousands of people to lose their jobs or businesses.

To change this scenario, it is necessary to implement public policies with strategies to create jobs, reduce bureaucracy, invest and encourage industry.

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Exxon, an energy company, thinks demand for oil, gas, and coal will increase for the foreseeable future, meaning 20-30 years. But they are hedging that bet by investing in small biofuels projects. This is called

Answers

Answer:

Forecasting

Explanation:

Forecasting is the way by which businesses predict future economic conditions by using past information and present economic situation to make informed guess about the future.

Forecasting is used by businesses to develop strategies that will ensure their future profitability.

In this instance Exxon predicted demand for oil, gas, and coal will increase for the foreseeable future of 20 to 30 years.

However their present activity is investment I sample biofuel projects.

This is forecasting the trend of demand in the oil and gas industry.

Can an RN delegate to an LPN to perform suctioning?

Answers

Yes, an RN can delegate to an LPN to perform suctioning as long as the LPN is competent and trained in the procedure.

Suctioning is a common nursing intervention used to remove secretions, blood, or vomitus from the airways of patients who have difficulty breathing or are unable to clear their own secretions. It is a procedure that requires specific training and competency validation before delegation to an LPN.

The RN must assess the patient's condition and determine if suctioning is necessary. The RN must also ensure that the LPN is competent and knowledgeable in performing the procedure, and that they understand the potential risks and complications associated with suctioning. The RN must provide clear instructions and supervision during the delegation process, and they must be available to intervene if any complications arise.

It is important to note that the scope of practice for an LPN varies by state and facility, and it is the responsibility of the RN to ensure that any delegation is within the LPN's scope of practice. Proper delegation of suctioning can help promote efficient and safe patient care.

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Horst company has 50,000 stock options outstanding. The option exercise price is $13 per share, the average market price of the stock was $12 per share during the year, and the end-of-year stock price was $14. For the purpose of calculating eps, these stock options are multiple choice question. Neither dilutive nor antidilutive. Antidilutive. Dilutive

Answers

There are 50,000 exercisable stock options at Horst Company. The average market price of the stock over the year was $12 per share, the exercise price of the option is $13 per share, and the stock price at the end of the year was $14. These stock options are antidilutive when determining eps.

Activities that maintain or boost EPS and shareholder voting power are referred to as antidilutive. On the other hand, dilutive refers to the result of certain actions or activities that lower EPS. Dilutive actions decrease the ownership rights of current shareholders. When another security mechanism would normally erode the owners' ownership interests, several security instruments contain clauses or ownership rights that let the owners to buy more shares. These are frequently referred to as anti-dilution clauses. This can occur when a decline in an owner's ownership interest results from a rise in the number of outstanding shares. Due to additional shares being issued during a round of equity financing, the total number of shares outstanding may rise. Anti-dilution clauses give shareholders the right to preserve their ownership proportions in the event that additional shares are issued. When new shares are issued, the ownership of an existing shareholder is diluted.

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11. Jiang has been working on a risk management plan for his government agency. He collected data on risks and recommendations, included that information in a report, and submitted it to management. What is the purpose of the report

Answers

Answer:

Findings, recommendation cost and time frame, and cost-benefit analysis (CBA)

Explanation:

Mike owns a skate shop. He is preparing the cash flow statement for his first year of
operation. He had a beginning cash balance of $4,800, $103,000 in total cash sales,
$3,500 for utilities, $2,600 in loan payments, and $5,500 for marketing cost. What
is Mike's ending cash balance?
FORMULA
Ending Cash Balance = Beginning Cash + Cash Inflow - Cash Outflow
Type a comma to separate the digits and type the $ symbol as shown below:
Example: $32,100

Answers

Based on the information given Ending Cash Balance  is $96,200.

Ending Cash Balance

Using this formula

Ending Cash Balance = Beginning Cash + Cash Inflow - Cash Outflow

Where:

Beginning Cash=$4,800

Cash Inflow =$103,000

Cash Outflow=$3,500+ $2,600+ $5,500 =$11,600

Let plug in the formula

Ending Cash Balance =$4,800+$103,000-($3,500+ $2,600+ $5,500 )

Ending Cash Balance =$4,800+$103,000-$11,600

Ending Cash Balance =$96,200

Inconclusion the Ending Cash Balance  is $96,200.

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Select all that apply.
Which of these are true of a natural pause following a conversation?
You should begin speaking to avoid awkwardness.
You should not panic.
Take a moment to collect your thoughts before you speak.
Conversations that end with a pause went poorly.

Answers

Answer: all of the above.

Why? Because all of them are important in a conversation!
speaking to avoid awkwardness is good so you won’t end up ruining the conversation without realizing and giving the other person a bad impression about yourself. And not panicking is quite important too, because when you panic and get negative thoughts you’ll realize that it’s keeping you down and making you feel bad or anxious about every single word you say. And lastly collecting your thoughts and putting them in order (few seconds before starting a conversation) can be helpful to most people which will make them feel more confident and prepare especially if the conversation was serious.

Answer:

You should not panic

AND

Take a moment to collect your thoughts before you speak.

Explanation:

Hope this helps!

Your older sister is planning on saving money by paying her bills, spending money on fun, and then saving whatever is leftover. Why is this not the best option for saving her money?

Answers

Answer:

spend money on bills first then food then save the leftover money for later

3. ______ are defined as goods or services that are required for health and safety.

Answers

Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.

What is the safety of goods?

A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.

Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.

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Jake Olsen has decided to put $1,000 in the bank. List several questions Jake might want to ask before ch whether to put the money in a checking or a savings account.

Answers

Answer:

look at my comment

Explanation:

Which of the following is an important early development in state regulation that is used in 44 states as a basis for advertising regulation?

A) the Better Business Bureau guidelines
B) the Wheeler-Lea Amendment
C) the Printers Ink model statutes
D) Consortium of Trade Association's regulations
E) Fifth Amendment rectifications

Answers

The correct answer is B) the Wheeler-Lea Amendment.

The Wheeler-Lea Amendment, also known as the Federal Trade Commission Act Amendments, is an important early development in state regulation that serves as a basis for advertising regulation in 44 states. The amendment was enacted in 1938 and expanded the authority of the Federal Trade Commission (FTC) to regulate unfair or deceptive acts or practices in commerce, including advertising. It provided the FTC with the power to regulate false or misleading advertising and take action against companies engaging in deceptive practices. The amendment aimed to protect consumers from deceptive advertising claims and promote fair competition in the marketplace.

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Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.

Answers

25 tickets

($14)(25)=$350
($25)(11)=$275
$350+$275= $625

reviewers are largely supportive of the increased push to have people pre order video games

A- true
B- false

Answers

Answer:

False

Explanation:

Reviewers resist the pre-order movement because it circumvents their role in the marketing process.

best dollar store publishes an advertisement in the local newspaper promoting its new baby diapers that are good for the environment. the advertisement states that the diapers are made from entirely biodegradable materials and that each diaper will completely biodegrade within two months and become a natural part of the soil. leon is very concerned about the environment and has created a compost heap in the pasture behind his home. leon purchases a package of the diapers for his child, and, as they are soiled, he adds them to the compost heap. six months later, the diapers have not even begun to degrade. best dollar store has violated:

Answers

Best Dollar Store violated the FTC's Green Guides by making a false and misleading environmental claim in their advertisement for biodegradable baby diapers, which did not degrade even after six months.

What exactly is biodegradable?

Biodegradable refers to materials that can be broken down naturally by living organisms, such as bacteria, fungi, and other microorganisms, into harmless substances like water, carbon dioxide, and biomass. This process of biodegradation occurs over time and depends on various factors like temperature, moisture, and the presence of microorganisms. Biodegradable materials are often promoted as an environmentally friendly alternative to non-biodegradable materials, which can persist in the environment for many years and cause pollution.

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Suppose that there are two industries, A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. There are four firms in industry B with equal sales of $2.5 million for each firm. The HHI for industry B is:
Multiple Choice
2,500.
1,800.
3,200.
2,800.

Answers

The Herfindahl-Hirschman Index (HHI) for industry B is 2,500. HHI is calculated by squaring the market shares of each firm in the industry and summing them up.

To calculate the HHI for industry B, we start by determining the market share of each firm. Since there are four firms in industry B, and each firm has equal sales of $2.5 million, their market share is calculated by dividing the sales of each firm by the total sales in industry B and multiplying by 100. In this case, each firm has a market share of 25%.

The HHI is then obtained by summing the squares of the market shares of each firm. In this scenario, we have four firms with equal market shares of 25%. Squaring this market share for each firm results in 6.25%, and when these squared values are added together, we get an HHI of 25% or 2,500.

Therefore, the correct answer is:

A) 2,500.

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The number of dependents that people are choosing to have is ?
O decreasing
O increasing

Answers

Current demographic trends show that the number of dependents that people choose to have is Decreasing.

What is the trend in dependants?

A general trend that has been noticed in recent years is that people are choosing to have less dependants such as children.

The top reasons for this include more education and increased economic hardship.

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Which should be done when interpreting employee engagement and satisfaction survey results?

Answers

When interpreting employee engagement and satisfaction survey results, several key steps should be taken:1. Analyze the data: Thoroughly examine the survey results, identifying patterns, trends, and areas of strength or concern.

2. Compare benchmarks: Compare the survey results to industry benchmarks or previous survey data to gain insights into the organization's performance relative to others or over time.3. Consider qualitative feedback: Take into account qualitative feedback from open-ended survey questions or additional comments to gain a deeper understanding of employees' experiences and perceptions.4. Segment the data: Analyze survey results by demographics, departments, or other relevant variables to identify any variations or specific areas of improvement tailored to different groups within the organization.

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a store at the mall having a minimum age requirement for workers is an example of which category of employee rights?

A. employee polygraph protection
B. workers compensation
C. workplace safety and health
D. wages and hours ​

Answers

Answer:D

Explanation:

I believe !

An example of a category of employee rights is a store in a mall that has a minimum age restriction for employees. Another example is salaries and hours. Hence option D is correct.

What rights do workers have?

You won't experience bullying or unjust treatment because of your race, colour, religion, sexual orientation, gender identity, national origin, handicap, age, or genetic information. Equal payment is made for comparable effort.

The Act establishes and makes clear three rights for employees: a "right to know" about the risks associated with their employment, a right to report workplace hazards to OSHA, and a right to protection against reprisals for exercising OSHA-protected rights.

Elimination of all forms of child labour, effective outlawing of forced or involuntary labour, and the abolition of discri mination based on unjust treatment employment and occupation, the right to associational freedom, and.

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50%
15%
20%
15%
Adjust the percentages of Chris's investment to minimize the risk in his portfolio

15%

BOND
(low risk, low growth)

50%

STOCK
(higher risk, higher growth)

20%

MUTUAL FUND
(medium risk, medium growth)

15%

Answers

Max out Stock, if doesn’t
Max out Mutual Fund (I’m assuming it’s everfi)

In which year did gross national product first exceed $11 trillion?

a. 2002
b. 2003
c. 2004
d. 2005

Answers

I believe it is a because gross,s product exceed 11 trillion in the year of 2002

Answer:

2003

Explanation:

Just took Quiz this was correct

Explain your reason behind the company dress code and the differences between departments

Answers

Reason behind company dress code: Projects professionalism, maintains brand identity, and creates a positive work environment.  Differences between departments: Varied dress codes align with job responsibilities and client interactions, balancing professionalism, practicality, and employee comfort.

Reason behind company dress code: The company dress code serves multiple purposes, including projecting a professional image, maintaining a consistent brand identity, and creating a positive work environment. It helps employees present themselves in a manner that aligns with the organization's values, industry standards, and client expectations. A dress code contributes to professionalism, promotes a sense of unity, and reinforces the company's culture.

Differences between departments: The variations in dress code between departments often arise from the nature of job responsibilities and client interactions. Customer-facing departments, such as sales or client services, may have a more formal dress code to establish credibility and maintain professionalism when dealing with external stakeholders. Conversely, internally-focused departments like IT or creative teams may have a more relaxed dress code to encourage creativity and flexibility.

These differences aim to balance professionalism, practicality, and employee comfort, while still adhering to the overall standards set by the organization. It is essential to communicate dress code policies clearly to ensure everyone understands the expectations and reasons behind them, fostering a cohesive and respectful work environment.

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Job #4260 consisted of 1,000 units at a total cost of $200,000. The cost transferred to cost of goods sold for the sale of 600 of the units is ______.

Answers

The answer is: 120,000

Explanation:

job #4260 consisted of 1,000 units at a total cost of $200,000. The cost transferred to cost of goods sold for the sale of 600 of the units is:

total cost / units x sale of units
200,000 / 1,000 x 600
= 120,000

The cost transferred to cost of goods sold for the sale of 600 of the units is 120,000. Frequently, market analysts use models with two sources of info: actual capital, with amount K and work, with amount L.

What is Total cost?

In financial matters, total cost (TC) is the base dollar cost of creating some amount of result.

This is the total monetary cost of creation and is comprised of variable cost, which changes as indicated by the amount of a decent delivered and incorporates information sources like work and natural substances.

Work #4260 comprised of 1,000 units at a total cost of $200,000. The cost moved to cost of products sold for the offer of 600 of the units is

Total cost / units x sale of units

200,000 / 1,000 x 600

= 120,000

The negligible cost can likewise be determined by tracking down the subordinate of total cost or variable cost. Both of these subsidiaries work in light of the fact that the total cost incorporates variable cost and fixed cost, yet fixed cost is a consistent with a subsidiary of 0.

The total cost of delivering a particular degree of result is the cost of the multitude of variables of creation. Total cost in financial matters incorporates the total open door cost (benefits got from the following best other option) of each element of creation as a feature of its fixed or variable costs.

Therefore The extra total cost of one extra unit of creation is called minor cost.

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Which of the following uses algorithm-driven software to make investment suggestions that will match the investor’s profile?
Multiple Choice
O Morningstar
O Reuters
O Market Watch
O Robo-Advisor
O Account Executive

Answers

option D is correct.  Robo-Advisor, This type of investment service uses algorithm-driven software to analyze an investor's risk tolerance, investment goals, and other financial factors to suggest investment options that match their profile.

Robo-advisors have become increasingly popular in recent years due to their low fees and accessibility. They are often used by younger investors who prefer a more hands-off approach to investing and want to take advantage of the benefits of technology in financial planning.  The investment platform that uses algorithm-driven software to make investment suggestions matching the investor's profile is a Robo-Advisor. Robo-Advisors gather information about the investor's financial goals, risk tolerance, and investment horizon. They then use this data to create a personalized investment strategy and provide automated recommendations. In contrast, an Account Executive is a human financial professional who manages client relationships and provides personalized advice. Robo-Advisors offer a more cost-effective and efficient solution for investors looking for a data-driven approach to investment management.

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Which strategic is phase consists of a concise statement that captures what the planning team believes should be the role of is resources in the firm?

Answers

The phase of developing a concise statement that captures what the planning team believes should be the role of IS resources in the firm is known as the information systems vision.

The correct option B.

What exactly is the vision of information systems?

An "IT vision" is a broad strategy for managing information technology (IT) departments and functions within business environments.

What exactly is a strategic vision for IT?

The mission statement is augmented and enlarged upon by a strategic vision statement. It describes an organization's attainable future state—exact timelines vary, but typically range from three to ten years. This statement should assist you and your employees in visualizing the direction of the organization.

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I understand that the question you are looking for is:

The IS planning process typically happens in five phases. Which phase consists of developing a concise statement that captures what the planning team believes should be the role of IS resources in the firm?

a. Information systems guidelines

b. Information systems vision

c. Strategic initiatives

d. Governance

you now know that boris yeltsin replaced the top-down command economy with free market forces after the collapse of the soviet union. were free market policies ever introduced in russia or hte soviet union between 1917 and 1991?

Answers

It put an end to Mikhail Gorbachev's (later President) attempts to change the Soviet political and economic systems in an effort to halt a period of political impasse and economic decline.

Which three Soviet republics proclaimed their national sovereignty first?

Between March and May 1990, the three Baltic states of Estonia, Latvia, and Lithuania were the first to formally renounce Soviet rule, asserting continuity with the original states that existed before the Soviet Union annexed them in 1940.

Stalin quickly changed this strategy through the nationalization of industry and the collectivization of farms, which were the outcomes of the accelerated central planning as illustrated by the "Five-Year Plans." The Soviet Union had been running its economy through a centralized structure since around 1930.

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Which of the following refers to the balance an account is always supposed to have?

Normal balance

Debits

Credits

Double-entry system

Answers

Answer:

Normal balance

Explanation:

Accounts are expected to have either debit or credit balance, depending on their classification. The accounting equation of Assets is equal to equity plus liabilities is the basis for account classification.  Assets accounts are on one side, while accounts relating to equity and liabilities are on the other.

Accounts have normal balances if the balances at the end of a period are as expected. Assets accounts are expected to have debit balances, while equity and liabilities accounts should have credit balances.

Will give brainlest
1. Define scarcity in terms of wants.


2. What are the three questions of economics?


3. Land, labor, capital, and entrepreneurship are called what economic term?


4. What is another word/term for an entrepreneur?


5. What is the reason most individuals want to open a new business?


6. Jim spends two and a half hours and $40 at the movies the night before an exam. What is the opportunity cost of this decision?


7. In a command economy, who decides what goods and services will be produced?


8. In capitalist economies how are prices set?


9. What is happening in the graph? (Supply or demand, increase or decrease, and is it quantity or not?)










10. What happens to the price and to quantity at this new equilibrium?








11. The law of supply says that as price rises, what will happen?


12. What will a high price do to consumers buying, and what will it do for producers?


13. If gas production drops for the year, how would it affect prices?


14. The law of Demand says when the price rises, the quantity demanded ________, and when prices fall, the quantity demanded of a good will __________.

15. If items are economic compliments, and demand for one increases, what will happen to the other item, typically?



16. Due to technological advances, individuals are able to buy and download music from the Internet as opposed to simply buying music from a store.
How would this technology affect the compact disc market? (Supply or demand? Increase
or decrease?)


17. What are the determinants of supply?


18. What do consumers do in the market to impact or influence what is produced?

Answers

Answer:

1. Scarcity is the inability to satisfy ones wants using the means available to them

 

2. Many have defined Economics as a social science that examines the relationship between

ProductionDistribution and Consumption of products and services.

So the three questions are:

What will be produced?

Who will consume the products?

How will it get to the consumer?

3. Land, Labor, capital, and entrepreneurship in economic parlance collectively called the factors of production. Many schools of thought have also added Information to that list.

4. Another word for an entrepreneur is a business owner

5. Most businesses are set up to make a profit. Others to meet an intrinsic goal. However, because every business must operate sustainably, even not-for-profits must at least breakeven to remain in existence

6. The opportunity cost of a thing is the benefit forgone in order to have or possess that thing. The opportunity cost to Jim is the risk of failing the exam giving that he should be prepping of getting ready for the same.

7. In a command economy, the government is in control of all the factors of production and so decides what goods and services will be produced.

8. In capitalist economies, prices are determined by the forces of demand and supply

9-10. the graph was not supplied. Hence the answer could not be provided.

11. The law of supply says that as price rises, (all things being equal), supply will follow in the same direction. This is because rising prices is favorable to the manufacturer of the product as they stand to make more profit.

12. High prices will force demand by consumers down. Consumers also want to maximize value. That is, they want to get the best at the lowest price possible. Hence, for consumers, high prices (all things being equal) will translate to lower quantity purchased.

Producers on the other hand will (all things being equal) attempt to push out more of their products in order to take advantage of the high prices to make more profit.

13. Gas production will most likely translate to increased prices. The demand for gas is inelastic because it is an essential commodity. Hence a drop in the volume available for purchase (all things being equal) will create an upward spiral in prices.

14. The law of Demand says when the price rises, the quantity demanded (all things being equal) goes in the opposite direction, and when prices fall, the quantity demanded of a goodwill (all things being equal will go the opposite direction.

15. Demand for Complimentary or joint goods such as smartphones, data and call credit usually go in the same direction (all things being equal).

16. Advances in technology is leading to a decrease in the supply and demand for compact disk. Because of the availablility of songs and videos online and ease of access to them via the same media, the demand for compact discs which take up a lot of physical space and usually more expensive is take a downward run. This, in turn, is discouraging more production hence the lower the supply of same.

17. The determinants of supply are:

Cost of raw materials/inputs Productivity Technology: Better technology will translate to increased supply The Number of sellers: the more sellers there is, the more supply there is. Taxes and subsidies: Supply and taxes usually go in the opposite direction. Subsidies and supply usually go in the same direction. Government regulations: This can stop the supply for a goods or service completely or enhance it greately Price Expectations: When supplier expectations about prices are positive, supply goes up. Positive expectation is that the prices will go up.

18. Consumers in order to impact or influence what is produced can choose between substitutes. These choices reflect why they go for a particular service, hence forcing other suppliers to follow the factors which drive demand.

Cheers

An investor is considering spending $5,000 to purchase 120-day
call options granting the right to buy 500 shares at a striking
price of $30. At what stock price would the investor break
even?

Answers

The stock price at which the investor would break even can be calculated by adding the striking price and the premium paid for the options.

In this case, the investor spent $5,000 to purchase call options granting the right to buy 500 shares at a striking price of $30. Therefore, the breakeven stock price would be $35 per share.

To calculate the breakeven stock price, we need to consider the striking price and the premium paid for the options. In this scenario, the investor spent $5,000 to purchase call options, which grant the right to buy 500 shares at a striking price of $30.

The premium paid for the options is not provided in the question. However, assuming the premium is zero, the breakeven stock price would be equal to the striking price of $30.

If there is a premium paid for the options, the breakeven stock price would be the sum of the striking price and the premium. For example, if the premium paid is $5 per option, the breakeven stock price would be $35 ($30 striking price + $5 premium).

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In one or two sentences, explain why people will do less of an activity when the marginal costs are greater than the
marginal benefits.

Answers

Answer:

Marginal cost is defined as the additional cost incurred in adding a unit of product or service.

Marginal benefit is defined as the additional satisfaction or utility that the individual receives from consuming the added unit of product or service. 

In every endeavor, we weigh the benefit and cost of a certain product, course of action or service. We aim to get the most out of every product or decision. We are driven to reach maximum profit at a minimum cost. Thus, when the marginal cost is greater than the marginal benefit, people will do less of an activity because it is not profitable.

Explanation:

Other Questions
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